Cash remittances sent by overseas Filipinos (OFs) rose 3 percent in October 2025 to $3.17 billion from a year ago, supported by steady overseas employment and seasonal transfers ahead of the holidays, data from the Bangko Sentral ng Pilipinas (BSP) showed Monday.
The figure was higher than the $3.08 billion reported in October 2024 and the $3.12 billion posted in September. However, it marked the slowest growth pace in a span of five months.
Cash remittances from land-based OFs climbed 2.98 percent year-on-year from $2.48 billion a year ago to $2.55 billion in October. Meanwhile, remittances from sea-based OFs rose 3.11 percent from $602.35 million to $621.11 million.
These brought the ten-month cash remittances total to $29.20 billion as of end-October, up 3.17 percent from $28.30 billion in the same period in 2024.
The BSP said the United States, Singapore and Saudi Arabia remained the top sources of remittance inflows from January to October 2025.
Personal remittances, which include cash sent through banks and informal channels as well as in-kind remittances, also grew by 3.05 percent to $3.52 billion in October.
Union Bank of the Philippines chief economist Ruben Carlo Asuncion said the increase was led by stable overseas employment and seasonal remittances ahead of the upcoming holidays.
“While October marked the slowest pace in five months, this reflects timing rather than a structural slowdown,” Asuncion said in a Viber message.
He said remittances are expected to accelerate in November and December, keeping the BSP’s full-year target of $35.5 billion “within reach.”
Remittances accounts for nearly a tenth of the gross national income, supporting household spending, particularly during the fourth quarter.
